NorthRock Partners LLC Purchases 423,429 Shares of Kraft Heinz Company $KHC

Key Points

• NorthRock Partners increased its Kraft Heinz position by 184.7% in the second quarter, acquiring 423,429 shares and bringing its holdings to 652,700 shares. Institutional investors collectively own 78.17% of KHC.
• Analysts remain cautious, with a consensus rating of “Reduce” and an average price target of $23.33; ratings include one Strong Buy, eleven Holds and five Sells.
• Kraft Heinz exceeded quarterly earnings and revenue expectations, reporting $0.56 EPS and $6.26 billion in revenue, while declaring a quarterly dividend of $0.40, representing a 6.4% annualized yield.

NorthRock Partners LLC grew its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 184.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 652,700 shares of the company's stock after acquiring an additional 423,429 shares during the period. NorthRock Partners LLC owned 0.06% of Kraft Heinz worth $15,417,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in KHC. Ashton Thomas Private Wealth LLC acquired a new position in shares of Kraft Heinz during the first quarter worth approximately $207,000. Woodline Partners LP lifted its stake in Kraft Heinz by 39.0% during the 1st quarter. Woodline Partners LP now owns 73,700 shares of the company's stock valued at $2,243,000 after acquiring an additional 20,690 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Kraft Heinz by 16.6% during the 2nd quarter. NewEdge Advisors LLC now owns 51,222 shares of the company's stock worth $1,323,000 after acquiring an additional 7,307 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Kraft Heinz by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 522,147 shares of the company's stock worth $13,482,000 after acquiring an additional 4,003 shares in the last quarter. Finally, HUB Investment Partners LLC purchased a new stake in shares of Kraft Heinz in the second quarter valued at about $207,000. 78.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KHC shares. Evercore set a $24.00 price target on shares of Kraft Heinz in a report on Thursday, August 6th. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. Sanford C. Bernstein lowered Kraft Heinz from a "market perform" rating to an "underperform" rating and reduced their price objective for the company from $25.00 to $21.00 in a report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their price target on Kraft Heinz from $21.00 to $22.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings cut Kraft Heinz from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, Kraft Heinz presently has a consensus rating of "Reduce" and a consensus price target of $23.33.

Kraft Heinz Stock Up 0.2%

KHC opened at $24.90 on Wednesday. The firm has a market capitalization of $29.53 billion, a P/E ratio of -8.71, a price-to-earnings-growth ratio of 3.02 and a beta of 0.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.06 and a quick ratio of 0.68. The company has a fifty day moving average price of $25.50 and a 200-day moving average price of $23.97. Kraft Heinz Company has a one year low of $21.03 and a one year high of $28.09.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.18 billion. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%.The company's revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. Equities research analysts expect that Kraft Heinz Company will post 2.06 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.4%. Kraft Heinz's dividend payout ratio is presently -55.94%.

Insider Activity at Kraft Heinz

In other news, insider Diana Frost sold 18,502 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $23.05, for a total value of $426,471.10. Following the transaction, the insider owned 102,667 shares of the company's stock, valued at $2,366,474.35. This represents a 15.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is owned by insiders.

Kraft Heinz Profile

The Kraft Heinz Company NASDAQ: KHC is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.

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